The inflation forecast for July is 5.3% YOY (year-on-year) or 0.17% MOM (month-on-month). Note that MOM declined from 0.6% in June to 0.17% in July.

By commodity group, Month-on-Month (MOM) inflation for both food and non-food items declined with food declining to 0.04% from 0.74% and non-food declining to 0.22% from 0.45%. (see Month on month below)

The only items which deviated from the trend are five items---tobacco which accelerated to 1.23%, housing, utilities and fuels which rose by 0.43% on account of the lagged impact of petroleum products on electricity prices, health which rose by 0.26% and 2 other items which rose slightly.